Court: Mont. can pursue ex-billionaire bankruptcy
Dec 18, 2012, 6:24 PM
Associated Press
BILLINGS, Mont. (AP) – Montana’s bid to force ultra-luxury resort founder Tim Blixseth into bankruptcy and make him cough up $57 million in alleged back taxes has been resurrected by an appeals court ruling in the case.
A three-judge panel of the 9th U.S. Circuit Court of Appeals overruled a lower court ruling Monday and said Nevada is the proper venue. Blixseth, a resident of Washington, is believed to have most of his assets in a Nevada-based trust.
The ruling comes on the heels of a Dec. 5 order that Blixseth pay $41 million to creditors from the Yellowstone Club, the private ski resort he founded near Big Sky.
Blixseth diverted most of a $375 million loan to the club for his personal use before it went bankrupt in 2008.
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